Stock Market Media Group Notes Midtown Partners & Co. Has Initiated Coverage on Staffing 360 Solutions with Buy Rating and $2...
May 31 2017 - 8:30AM
Marketwired
Stock Market Media Group Notes Midtown Partners & Co. Has
Initiated Coverage on Staffing 360 Solutions with Buy Rating and $2
Price Target
NEW YORK, NY - Stock Market Media Group notes new research
coverage in the month of May as New York investment bank, Midtown
Partners & Co., LLC ("Midtown") has initiated coverage on
Staffing 360 Solutions, Inc. (NASDAQ: STAF), an international
staffing services provider pursuing acquisition targets in the
finance, accounting, administrative, engineering and IT industries,
with its published research report, which includes a Buy Rating and
a $2 Price Target.
Read Midtown's report at:
http://midtownpartners.com/wp-content/uploads/Staffing-360-Solutions-Inc.pdf
Midtown's Director of Research, analyst William Relyea, said of
the firm's initiation of coverage on Staffing 360 Solutions, "We
base our price target on expectations for a resumption of accretive
acquisitions which the company has used in the recent past to grow
revenues, gross profit, EBITDA and Adjusted EBITDA. We think
investors will become comfortable with the return to more rapid
growth on a somewhat less dilutive basis and will be willing to pay
up from the low current valuation as measured by multiples of
revenues and gross profits."
Staffing 360 Solutions operates in the high-growth staffing
industry where it is executing a global buy-and-build strategy
through the acquisition of staffing organizations in both the
United States and the United Kingdom. Globally, the staffing
industry is estimated at $430 billion, and in Midtown's report,
which was released to its clients and investors earlier this month,
the firm highlighted a number of key areas for investors to
consider when evaluating the company:
- STAF has a highly-focused growth by acquisition strategy that
through 6 acquisitions in the highly-fragmented staffing market
achieved rapid growth with high client retention, strong recurring
revenues and expanding aEBITDA from its beginning in 2013 to
2016.
- Recent financings totaling $9 million by the Jackson Investment
Group eliminated a prior financing that required significant
near-term payments and reduced forward visibility. These
investments should allow STAF to resume its program of accretive
acquisitions in the temporary staffing industry.
- The company's stated goal is to achieve $300 million in revenue
run rate, up from $183.5 million for last year.
The report states that profitability at Staffing 360 Solutions
seems likely to continue to improve. "As measured by EBITDA and
adjusted EBITDA, STAF has been advancing towards profitability.
Gross profit margins have been steady and operating expenses
decreasing as a percentage of revenues."
Midtown's analyst says, "The entry of the Jackson Investment
Group makes a very positive change in the outlook for STAF's
prospects for returning to its "buy-and-build" acquisition
strategy."
Read Midtown's report here:
http://midtownpartners.com/wp-content/uploads/Staffing-360-Solutions-Inc.pdf
About Midtown Partners & Co., LLC
Originally founded in May 2000, Midtown Partners & Co., LLC
is an investment bank focused on private placement investment
banking opportunities. The investment banking group at Midtown
Partners & Co., LLC was founded on the premise that client
relationships and industry focus are keys to the success of
emerging growth companies. Such companies require
investment-banking services from a firm with a unique understanding
of the marketplace and the nature of these transactions. Additional
information can be found at http://www.midtownpartners.com.
About Stock Market Media Group
Stock Market Media Group is a Content Development IR firm
offering a platform for corporate stories to unfold in the media
with research reports, corporate videos, CEO interviews and feature
news articles.
Stock Market Media Group may from time to time include our own
opinions about the companies, their business, markets and
opportunities in our articles. Any opinions we may offer about any
of the companies we write about are solely our own, and are made in
reliance upon our rights under the First Amendment to the U.S.
Constitution, and are provided solely for the general opinionated
discussion of our readers. Our opinions should not be considered to
be complete, precise, accurate, or current investment advice, or
construed or interpreted as research. Any investment decisions you
may make concerning any of the securities we write about are solely
your responsibility based on your own due diligence. Our
publications are provided only as an informational aid, and as a
starting point for doing additional independent research. We
encourage you to invest carefully and read the investor information
available at the web site of the U.S. Securities and Exchange
Commission at: www.sec.gov, where you can also find all the
company's filings and disclosures. We also recommend, as a general
rule, that before investing in any securities you consult with a
professional financial planner or advisor, and you should conduct a
complete and independent investigation before investing in any
security after prudent consideration of all pertinent risks.
We are not a registered broker, dealer, analyst, or adviser. We
hold no investment licenses and may not sell, offer to sell or
offer to buy any security. Our publications about any of the
companies we write about are not a recommendation to buy or sell a
security.
SEC RULE 17b
COMPENSATION DISCLOSURE
Section 17(b) of the 1933 Securities and Exchange Act requires
publishers who distribute information about publicly traded
securities for compensation, to disclose who paid them, the amount,
and the type of payment. In order to be in full compliance with the
Securities Act of 1933, Section 17(b), Stock Market Media Group is
disclosing that it was compensated $860 for content development
related to this research report by Staffing 360 Solutions, Inc. via
a bank wire.
For more information: www.stockmarketmediagroup.com.
Contact:
Stock Market Media Group
info@stockmarketmediagroup.com
Staffing 360 Solutions (NASDAQ:STAF)
Historical Stock Chart
From Mar 2024 to Apr 2024
Staffing 360 Solutions (NASDAQ:STAF)
Historical Stock Chart
From Apr 2023 to Apr 2024